Question: Lacy Construction has a noncontributory, defined beneft pension plan, At December 3 1 . 2 0 2 4 , Lacy recelved the following information:
Lacy Construction has a noncontributory, defined beneft pension plan, At December Lacy recelved the following information:
tableProjected Benefit osligation, In millionsBalasce Jahuary $ Service costPrior service cost,Interest cedt eBentfils paid,Bulance Decrmber Ptas Assets,s in millienaBatance Janoary peArtwal returs on plan avoets,Comtrlbulibes Benefits paid,Balanct Pecenter
The expected longserm rate of return on plan asvets was These were no ADCi balances related to penalions on January At the end of Lacy amended the pension formula creasing a prior service cost of millan.
Requilred:
Determine Lacy's pension expense for
Prepare the joumal entrys to necord Lacy's a pension expense, b pains or loates, ci prigr service cost, d funding, and o paryment of reticee benefiss for
Complete this question by entering your anwwers in the tabs below.
Required :
Dubermine Lacy's perdios expense for be entered an
tablePenalon Esperse In mitionalService most,Interest costCrpected retam on the plan miseth,Ampriastion ef prior servioe cout,Pension axpente,
answer BOTH REQUIRMENTS
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